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Icici Bank
(NYSE:IBN)
Icici Bank (IBN) vs. SPDR S&P 500 ETF (SPY)
Icici Bank Business Overview & Revenue Model
Icici Bank Earnings Call Summary
Icici Bank Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.02T | 2.95T | 2.35T | 1.85T | 1.58T | 1.61T |
| Gross Profit | 2.05T | 2.01T | 1.60T | 1.29T | 989.30B | 964.98B |
| EBITDA | 1.01T | 1.65T | 635.04B | 488.90B | 280.08B | 218.35B |
| Net Income | 528.91B | 510.29B | 442.56B | 340.37B | 251.10B | 183.84B |
Balance Sheet | ||||||
| Total Assets | 26.69T | 26.42T | 23.64T | 19.58T | 17.53T | 15.74T |
| Cash, Cash Equivalents and Short-Term Investments | 1.97T | 2.14T | 1.90T | 1.64T | 2.14T | 1.82T |
| Total Debt | 2.15T | 2.04T | 2.01T | 1.84T | 1.59T | 1.40T |
| Total Liabilities | 23.23T | 23.13T | 20.94T | 17.37T | 15.65T | 14.07T |
| Stockholders Equity | 3.30T | 3.14T | 2.56T | 2.14T | 1.82T | 1.58T |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -800.22B | 1.54T | -62.39B | 562.51B | 1.36T |
| Operating Cash Flow | 0.00 | -752.52B | 1.57T | -37.71B | 581.11B | 1.38T |
| Investing Cash Flow | 0.00 | -772.88B | -1.46T | -680.05B | -393.21B | -629.87B |
| Financing Cash Flow | 0.00 | 2.04T | 2.47T | 247.91B | 174.51B | -546.67B |
Icici Bank Technical Analysis
Icici Bank Risk Analysis
Icici Bank Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $170.04B | 21.78 | 14.17% | 3.07% | -1.78% | 0.65% | |
71 Outperform | $73.64B | 16.76 | 7.85% | 3.36% | -20.94% | -18.71% | |
71 Outperform | $82.58B | 13.59 | 11.31% | 3.13% | 1.79% | 30.93% | |
69 Neutral | $74.92B | 10.10 | 19.90% | 9.77% | 11.82% | 3.41% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $91.38B | 13.56 | 9.14% | 2.34% | -2.84% | 25.48% | |
63 Neutral | $107.94B | 17.32 | 17.41% | 0.85% | 10.85% | 7.98% |
Icici Bank Corporate Events
On December 2, 2025, Moody’s reaffirmed the credit ratings of ICICI Bank’s facilities and instruments, as announced in a press release. This reaffirmation by Moody’s is significant for ICICI Bank as it reflects the bank’s stable creditworthiness and could positively impact its market positioning and stakeholder confidence.
On November 27, 2025, ICICI Bank received approval from the Reserve Bank of India to acquire 100% shareholding in ICICI Prudential Pension Funds Management Company Limited from ICICI Prudential Life Insurance Company Limited, subject to certain conditions. This acquisition aims to make ICICI PFM a wholly owned subsidiary, potentially enhancing ICICI Bank’s market position in the pension fund management sector, pending further regulatory clearances.
On November 25, 2025, ICICI Bank Limited received a compounding order from the Reserve Bank of India due to regulatory violations, including delays in filing certain forms and receiving funds through ineligible payment modes. The bank has been directed to pay a penalty of INR 22,73,554. This action highlights the importance of compliance with regulatory requirements and could impact the bank’s operational focus on adhering to financial regulations.
On November 28, 2025, ICICI Bank Limited announced the successful issuance of 3,945 unsecured, subordinated, non-convertible Tier 2 bonds, aggregating to ₹39,450 million. These bonds, compliant with Basel III norms, were privately placed with selected investors and are rated ‘AAA; Stable’ by CARE Ratings and ICRA Limited. This strategic move is expected to bolster the bank’s capital adequacy and support its growth initiatives, reflecting positively on its market positioning and financial stability.
On November 13, 2025, ICICI Bank received a favorable decision from the Appellate Joint Commissioner under the Telangana Goods and Services Tax Act, 2017, which nullified a previous tax demand and penalty imposed by the Telangana Goods and Services Tax Department. This decision effectively disposes of the tax demand, potentially impacting the bank’s financial obligations positively and reinforcing its compliance standing.
ICICI Bank Limited announced that the Reserve Bank of India (RBI) approved an amendment to its ADR Deposit Agreement, allowing registered American Depository Shares (ADS) holders to exercise voting rights. This approval, communicated on October 31, 2025, is contingent upon the ADS holders demonstrating compliance with Section 12B of the Banking Regulation Act, 1949, and relevant guidelines. This development could enhance shareholder engagement and potentially impact the bank’s governance structure.
On October 30, 2025, ICICI Bank Limited announced that ICRA Limited has reaffirmed the credit ratings of the bank’s facilities and instruments. This reaffirmation by ICRA, a prominent credit rating agency, is a positive indicator of ICICI Bank’s financial stability and creditworthiness, potentially enhancing stakeholder confidence and supporting the bank’s position in the financial market.
On October 28, 2025, ICICI Bank announced a change in its website domain from www.icicibank.com to www.icici.bank.in, in compliance with RBI guidelines. The bank has ensured a smooth transition, with automatic redirection from the old domain to the new one, allowing stakeholders to access services and content as per regulatory requirements. This change reflects the bank’s commitment to adhering to regulatory standards and enhances its digital presence.
On October 24, 2025, ICICI Bank announced that it has uploaded the transcripts of its recent media conference call and earnings call with analysts and investors for the quarter and six months ended September 30, 2025, on its website. This disclosure under the Indian Listing Regulations aims to ensure transparency and provide stakeholders with insights into the bank’s financial performance, potentially impacting investor confidence and market positioning.
On October 18, 2025, ICICI Bank announced that it has prepared an investor presentation for its earnings call with analysts and investors, covering the financial results for the quarter and six months ended September 30, 2025. This presentation is available on the bank’s website, reflecting the bank’s commitment to transparency and communication with stakeholders.
ICICI Bank announced that it has uploaded the audio recordings of its financial results call for the quarter and six months ended September 30, 2025, on its website. This disclosure, dated October 18, 2025, provides stakeholders, including media, analysts, and investors, with access to detailed discussions on the bank’s financial performance, potentially impacting investor relations and market perceptions.
On October 18, 2025, ICICI Bank’s Board of Directors approved the unaudited financial results for the quarter and six months ending September 30, 2025. The bank reported a net profit of ₹12,358.89 crore for the quarter, reflecting a solid financial performance. Additionally, the Board appointed Ms. Vijayalakshmi Iyer as an Additional Independent Director, effective December 1, 2025, and announced the retirement of Mr. Balaji V.V. from senior management, effective November 1, 2025. These developments are expected to influence the bank’s strategic direction and governance structure.
On September 29, 2025, ICICI Bank Limited received a Show Cause Notice under section 73 of the Maharashtra Goods and Services Tax Act, 2017, from the Additional Commissioner of CGST and CEx., Mumbai East Commissionerate. The notice raised a GST demand of ₹216.27 crore, including tax, interest, and penalties, for services provided to customers maintaining specified minimum balances. This issue has been a subject of previous litigation, and due to the significant amount involved, the bank is reporting this matter and plans to file a reply within the prescribed timelines.
On September 22, 2025, ICICI Bank received a Show Cause Notice under the West Bengal Goods and Services Tax Act, 2017, concerning a GST demand of over ₹15.6 crore related to services provided to customers maintaining specified minimum balances. The bank is currently in litigation over similar issues and plans to respond to the notice within the prescribed timelines. This disclosure was delayed due to the bank’s evaluation of the notice’s contents.
ICICI Bank has announced that its Board of Directors will meet on October 18, 2025, to review and approve the unaudited financial results for the quarter and six months ending September 30, 2025. In compliance with regulatory requirements, the bank has closed its trading window for designated persons and their immediate relatives from October 1 to October 20, 2025, to prevent insider trading.
On September 19, 2025, ICICI Bank announced changes in its senior management, effective October 1, 2025. The Board of Directors approved the inclusion of Mr. Samit Upadhyay and Mr. Sachin Garg as senior management personnel, while Mr. Atul Arora will retire on September 30, 2025. These changes are part of the bank’s ongoing efforts to strengthen its leadership team and ensure a smooth transition in its management structure.
On September 15, 2025, ICICI Bank received an Order in Appeal under the West Bengal Goods and Services Tax Act, 2017, demanding a total of ₹49.11 crore. This order pertains to GST demands on services provided to customers maintaining specified minimum balances. The bank has previously faced similar issues and has filed writ petitions against show cause notices from various tax authorities. ICICI Bank plans to contest the order through further appeals, highlighting the ongoing regulatory challenges faced by the bank.
On September 12, 2025, ICICI Bank received approval from the Reserve Bank of India to increase its shareholding by up to 2% in its subsidiary, ICICI Prudential Asset Management Company Limited. This move is aimed at maintaining the bank’s majority shareholding in the subsidiary, ensuring compliance with applicable regulations, and potentially strengthening its position in the asset management industry.